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The knowledge-based economy, namely the new world economy based on the exploration, production, sharing and protection of knowledge, is growing. Europe and the U.S. are the leading destinations for U.S. and international students seeking to study or work abroad. However, still today less than 1% of the current U.S. student body decides to temporarily go abroad during college or graduate school.

Aware of the importance of international education, Congress is in the process of enacting the Paul Simon Study Abroad Foundation Act with the aim of sending 1 million U.S. students abroad in the next 10 years.

With the intention to enhance the debate among administrators and scholars, this article has five main objectives: a) Provide the most recent data with respect to the flow of U.S. students abroad; b) Provide the most recent data with respect to the flow of International students into the U.S. and, similarly, the development of international education in other countries; c) Summarize the criticism on the latest ethical concerns created by the study abroad industry of third party providers; d) Analyze the effects of the international education industry shaping the structural change of U.S. law schools; e) Try to envision the future of the global law school.

Data shows that employers are more inclined to hire graduates who have studied and/or worked abroad. However, in order to remain competitive and satisfy an increasing demand of professionals with a foreign background, U.S. employers need to hire foreign- educated graduates. U.S. law schools are realizing the importance of preparing students for the global knowledge-based economy.

The rise in tuition costs, the wealth of the labor market, the complexity of visa procedures and a renewed competition among universities (in steady expansion) are re-shaping the globalization process of legal education. Law schools are changing and adapting to the ever changing legal education needs.